M’s have until Thursday for Lopez, Branyan, Bedard options

The Mariners have until 9 p.m. Thursday to pick up or decline a $4.5 million option on third baseman Jose Lopez. (Harry How/Getty Images)

Thursday at 9 p.m. is the deadline for the Mariners to pick up or decline the 2011 options on third baseman Jose Lopez, designated hitter Russell Branyan and starting pitcher Erik Bedard.

Lopez would be due $4.5 million, Branyan due $5 million and Bedard due $8 million.

Let’s start with the most obvious: Bedard, who made one rehab start at Triple-A Tacoma but never made a major league appearance in 2010, will almost certainly see his option declined. The team could try to bring him back at a much smaller salary, but after the past few injury-plagued seasons it might be time to give up on the lefty.

Branyan is coming off a back injury and will likely see his option declined as well. The Mariners will have until Sunday to negotiate exclusively with Branyan, after that he will be an unrestricted free agent and can negotiate with any team.

The Lopez option likely also will be declined and the team could try to work out a cheaper deal. The Mariners can buy out his option and still go to arbitration because Lopez has just 5 years of service. Considering Lopez’s miserable offensive numbers last season, arbitration is a much more attractive option for the Mariners than paying out $4.5 million for one more season in what will be another rebuilding year.

But Lopez is a bit more complicated than the other two. Chone Figgins’ future as a second baseman and Dustin Ackley’s impending arrival in the majors play a role in how the Mariners will handle Lopez.

For more on what the team might do with Lopez, check out Dave Cameron’s analysis at U.S.S. Marinerhere.